Average Financial Analyst Salary by State

Financial analysts offer businesses and individuals to make the best investment decisions. They regularly assess how stocks, bonds, and other investments are performing. Some of the common duties of financial analysts are: (BLS.gov)

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  • Recommend specific investments and groups of investments to investors, which are called portfolios.
  • Perform analysis of current and historical financial information.
  • Study business and economic trends.
  • Examine the financial statements of a company to make an estimate of its value.
  • Meet with corporation officials to better understand the prospects of the company.
  • Assess how strong the management team is.
  • Prepare financial reports.

Financial analysts work in pension funds, mutual funds, banks, insurance companies, and securities firms to evaluate investment opportunities. They also may be called securities analysts and investment analysts.

Financial analysts usually are grouped into two types:

  • Buy-side analysts devise investment strategies for organizations with a lot of money to invest. These organizations are known as institutional investors and can include insurance companies, hedge funds, independent money managers and nonprofit organizations.
  • Sell-side analysts: Provide advice to financial services agents who market stocks, bonds, and other types of investments.

Some financial analysts are employed in the business media or research organizations, which are independent of the buy/sell sides. Many financial analysts focus on trends in a certain industry, region or type of product. Some, for example, might focus on the energy industry, while others could focus on Eastern Europe and how new regulations and economic trends can affect investments in those countries.

Financial Analyst Salary Outlook

If you want to work as a financial analyst, you will need to obtain your bachelor’s or master’s degree in finance, business management or business analytics.

See Top Ranked Online Master’s in Business Analytics Degrees

This is a serious commitment to your education, so it is smart to learn what you can earn in this profession. Below is detailed salary information for financial analysts.

Bureau of Labor Statistics

The Bureau of Labor Statistics reports the median salary for financial analysts in 2018 was $85,600, with the lowest 10 percent making $52,500, while the top 10% earned $167,000 or more. (BLS.gov)

The median salaries in the top industries for financial analysts were:

  • Securities, commodity contracts, and other financial investments: $101,400
  • Professional, scientific, and technical services: $84,500
  • Management of companies and enterprises: $83,600
  • Credit intermediation and related activities: $81,400
  • Insurance carriers and related activities: $78,800


Payscale.com reports the average salary for financial analysts is $61,800, with a range between $45,000 and $83,000. (Payscale.com).The website also provides these specific salaries at major companies around the US for financial analysts:

  • Boeing Company: $79,000
  • PepsiCo: $64,000
  • Humana: $53,000
  • Intel Corp.: $61,000
  • Rolls-Royce: $65,000
  • P. Morgan Chase: $70,000
  • KeyBank: $55,000
  • Lockheed Martin Corp: $60,000

These skills critical for financial analysts were reported with the following salaries:

  • Financial analysis: $63,700
  • Microsoft Excel: $61,600
  • Financial reporting: $63,100
  • Data analysis: $62,600
  • Budgeting: $63,300

Your pay as a financial analyst also will depend on your experience in the field:

  • Less than one year of experience: $56,200
  • One to four years of experience: $60,600
  • Five to nine years of experience: $69,600
  • Ten to 19 years of experience: $74,600
  • More than 20 years of experience: $67,680

Your pay also can be more or less based on your city of residence:

  • Seattle: +16%
  • Portland: +10%
  • Houston: +9%
  • Los Angeles: +7%
  • New York City: +6%
  • Chicago: +2%
  • Boston: -9%


Indeed.com reports the average national salary for financial analysts is $70,900 with a range between $23,000 and $143,000. (Indeed.com)

Indeed.com also reports the following salaries for these companies for financial analysts:

  • US Air Force: $125,200
  • Boeing: $87500
  • AT&T: $85,700
  • Cisco: $84,400
  • Raytheon: $81,900
  • BP: $78,700
  • Abbott Labs: $73,200
  • General Dynamics: $67,300
  • Primerica: $73,500
  • JLL: $66,300


Glassdoor.com states the average salary for financial analysts across the US is $67,130, with a range between $51,000 and $91,000. (Glassdoor.com)


This website reports the average national salary in this field is $67,400, with a range between $32,500 and $98,500. Professionals with a master’s in finance and more than five or seven years of work experience usually can earn in the $100,000 range. Most workers earn between $55,000 and $77,000. (Ziprecruiter.com)

Job Demand for Financial Analysts

Employment for financial analysts will grow by 6% by 2028, which is about as fast as average compared to other fields. There are more financial products available today and the need for expert knowledge of geographic regions should lead to stronger economic growth. (BLS.gov)

See also How to Become a Financial Analyst

Demand for financial analysts usually follows economic growth. The US economy is growing at a good pace, and financial analysts will be needed to review investment opportunities as new companies are established, or current ones expand. Also, emerging markets around the globe offer new investment opportunities, which require financial analysts with expertise in these areas.

Demand also should be seen because of the growth of ‘big data’ and improvements in technology. These developments should allow financial analysts to have access to more data and perform high-quality financial analysis. This advanced form of financial analysis will help companies manage their finances, find better investment opportunities, and deliver new products or services to clients.

Average Financial Analyst Salary by State

StateHourly WageAnnual Salary
New York - Financial Analyst$35.63$74,103
Massachusetts - Financial Analyst$35.37$73,570
New Hampshire - Financial Analyst$34.51$71,784
Maryland - Financial Analyst$32.83$68,284
Hawaii - Financial Analyst$32.67$67,963
Connecticut - Financial Analyst$32.58$67,766
Alaska - Financial Analyst$32.58$67,762
Montana - Financial Analyst$32.58$67,762
North Dakota - Financial Analyst$32.58$67,762
Wyoming - Financial Analyst$32.58$67,762
Nevada - Financial Analyst$32.58$67,762
Idaho - Financial Analyst$32.58$67,762
Vermont - Financial Analyst$32.49$67,582
Nebraska - Financial Analyst$32.43$67,450
Washington - Financial Analyst$32.41$67,411
Rhode Island - Financial Analyst$32.07$66,715
California - Financial Analyst$32.06$66,677
Virginia - Financial Analyst$31.90$66,347
Arizona - Financial Analyst$31.56$65,638
New Jersey - Financial Analyst$31.35$65,217
Colorado - Financial Analyst$30.94$64,358
West Virginia - Financial Analyst$30.92$64,320
Minnesota - Financial Analyst$30.80$64,070
Pennsylvania - Financial Analyst$30.80$64,065
South Dakota - Financial Analyst$30.79$64,041
South Carolina - Financial Analyst$30.74$63,947
Tennessee - Financial Analyst$30.62$63,699
Delaware - Financial Analyst$30.61$63,670
Oregon - Financial Analyst$30.58$63,610
Utah - Financial Analyst$30.37$63,165
Ohio - Financial Analyst$30.31$63,042
Kentucky - Financial Analyst$30.27$62,972
Indiana - Financial Analyst$30.10$62,612
Oklahoma - Financial Analyst$30.03$62,458
Louisiana - Financial Analyst$29.94$62,276
Wisconsin - Financial Analyst$29.89$62,168
Kansas - Financial Analyst$29.80$61,976
Maine - Financial Analyst$29.77$61,917
Iowa - Financial Analyst$29.70$61,776
Texas - Financial Analyst$29.20$60,742
Georgia - Financial Analyst$29.10$60,525
Arkansas - Financial Analyst$28.99$60,296
New Mexico - Financial Analyst$28.82$59,954
Alabama - Financial Analyst$28.61$59,508
Michigan - Financial Analyst$28.58$59,442
Illinois - Financial Analyst$28.49$59,255
Mississippi - Financial Analyst$28.17$58,586
Missouri - Financial Analyst$27.88$57,990
Florida - Financial Analyst$27.46$57,120
North Carolina - Financial Analyst$24.98$51,948

Source: Ziprecruiter.com, January 2020.


Employment for most business and financial occupations is rising quickly in the strong United States economy. Overall growth in these occupations will exceed 7% by 2028, which is faster than average for all US-based occupations. Approximately 591,000 new financial and business jobs will be created by that year.

A growing economy, globalization, and a more complex regulatory and tax environment will bring stronger demand for all types of financial professionals, including financial analysts. With a bachelor’s or master’s degree in finance, you can start out earning at least $65,000 or so and eventually earn six figures. (BLS.gov)